Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
S&P: Maintenance of Ratings Depends on Mitigating Terrorism Risks
Oct 24 2001 // Wholesale withdrawal from terrorism coverage is shielding the U.S. insurance industry from widespread rating actions following the September attacks, but it leaves U.S. commerce highly vulnerable to any future acts of a...
Illinois Director Issues Bulletin to Comply with Executive Order
Oct 17 2001 // Illinois Insurance Director Nat Shapo has issued a bulletin to all Illinois insurance companies advising them to review their records and comply with an executive order signed by President Bush to freeze the assets of any...
U.S. Insurers Draft Proposal for $10 Billion Government-Backed Insurance Pool
Oct 15 2001 // U.S. insurers completed a draft proposal on Oct. 10 for a $10 billion government-backed insurance pool that they hope will protect them from further terror attacks after the destruction of the World Trade...
Financial Toll Mounts From Sept. 11 Tragedy, Lessons Emerge
Oct 15 2001 // The financial and human losses from the events of Sept. 11 continue to haunt insurance companies across the country and for that matter, the world. Following the tragedies that impacted New York City, Washington, D.C., and...
Preparing for the Unthinkable
Oct 15 2001 // Although another terrorist attack is a concept too awful to imagine, as an industry, our job is to protect against the unthinkable. That’s why insurers and reinsurers alike are lining up to support the creation of a...
Holocaust Reporting Law Ruled Unconstitutional
Oct 12 2001 // A California law requiring that insurance companies turn over information related to European insurance policies or face loss of their licenses has been ruled an unconstitutional violation of due process, according to the...
Global Insurers Acknowledge Increased Exposures from Attacks
Oct 10 2001 // A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to...
Finance Panel Discusses Insurance Threats Following Sept. 11
Oct 10 2001 // A panel of real estate finance and economic experts appearing on Capitol Hill on Oct. 4 identified the continuing U.S. economic slowdown and emerging property and casualty insurance issues as key threats to the...
Berkshire Hathaway’s Buffett Predicts Prolonged Recession
Oct 8 2001 // In a letter to shareholders posted on his website Sept. 26, billionaire Warren Buffet warned of a recession, “probably a relatively deep and extended one, but they are part of business life and we are...
AIG Member Companies Complete Placement of Aviation War Risk and Hijacking Liability Coverage Octob
Oct 8 2001 // American International Group Inc. (AIG) has announced that its member companies have completed the placement, on behalf of the co-insurance market, of aviation war risk and hijacking liability coverage that makes available...
Lloyd’s Estimates U.S. Disaster Losses at$1.91 Billion
Oct 8 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, finally released its projected loss figures from the disastrous events of Sept. 11. According to the calculations from over 100 syndicates, net...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 8 2001 // If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve...
Lloyd’s Questioned on Liquidity, Exposures
Oct 3 2001 // Lloyd’s has received a barrage of questions on its total exposures and its liquidity following the release of its projected net loss figure of $1.94 billion as a result of the attacks on the U.S. (See IJ Website...
RMS Releases Newest Catastrophe Model
Oct 3 2001 // Risk Management Solutions (RMS), a specialist in the area of natural hazard risk modeling, announced the most recent release of its U.S. and Canada Tornado/Hail models for use with RiskLink®-DLM and ALM® catastrophe...
Rising Loss Estimates Heighten Concern for the Stability of Some Insurance Sectors September 28, 20
Sep 28 2001 // In light of rising estimates of losses from the World Trade Center tragedy, some sectors of the insurance industry could suffer significant damage to their financial stability, according to a new assessment by Weiss...
Lloyd’s Puts Losses from U.S. Disasters at
Sep 27 2001 // Lloyd’s of London said Tuesday that it had completed a review of the potential loss liabilities from more than 100 of its 108 active underwriting syndicates and estimated that its overall net exposure from the...
Hiscox Estimates Loss from U.S. Attacks at
Sep 26 2001 // The U.K.’s Hiscox Plc, which writes business through the Lloyd’s market and independently, released its estimate that the Sept. 11 attacks in the U.S. would cost it around £20 million ($29.25...
A.M. Best Announces Rating Actions
Sep 25 2001 // A.M. Best announced a series of rating decisions affecting companies in the U.S., Europe and Canada. On a positive note it affirmed the A+ (Superior) rating of the Swiss Group Winterthur and the A-(Excellent ) ratings for...
OneBeacon Transfers P&C Business to Liberty Mutual
Sep 24 2001 // The next challenge is to educate independent agents in those respective markets about the value of the Liberty Mutual brand and how this helps everyone.” That was the response of a company spokesman from Liberty...
International Commentary: A Stunned World Reacts to Terrorist Attacks
Sep 24 2001 // No words will ever be able to fully convey the shock and the stunned incredulity around the world as the Sept. 11th terrorist attacks unfolded on television screens across the globe. Live coverage on French television...
